Wednesday, August 8, 2012

OLT Express Germany has new owner

The regional airline OLT Express Germany is acquired by the Dutch investor Panta Holdings. Panta Holdings is already owner of an airline, the ACMI-carrier Denim Air. OLT Express Germany was formed, when Amber Gold, until then owner of Polish regional airline Jetair, overtook the cash-stricken German airline OLT in 2011. In the following time Amber Gold invested much money in the airlines. OLT was rebranded as OLT Express Germany and extended the network. The Polish airline was rebranded as OLT Jetair and commenced domestic routes in Poland early this year. Even in early 2012 OLT Jetair got the new name OLT Express Regional and a new airline was founded: OLT Express Poland, which commenced routes with A319/A320 aircraft from Poland to several international destinations. But in July OLT Express Poland and OLT Express Regional ceased operations due financial problems. OLT Express Germany survived, but had to find an new investor. With Panta Holdings now an new owner of OLT Express Germany could be found. OLT Express Germany and Panta Holdings have announced, that the extension of the network will continue as planned and Contact Air will be acquired by OLT Express as announced earlier.